My dad is all in quantum stocks and is gonna get wiped out. He keeps buying the dip and I'm worried. How do I talk sense into him? This is my inheritance after all
>>61311069kek, all in on quantumn computing. i dont think you will be able to convince him. he considers you the fool. move on from this. let him be
Oh, I was wondering who was on the other end of the Rigetti Computing trade and keeps giving me opportunities to refresh my shorts. It's your dad.
>>61311212I dont see options on rigetti what is wrong with RH?
Ummm, as his daughter I don't know how you will be able to tactfully explain to him why he is mistaken.The root of it is he doesn't understand what quantum computing is. To him, it sounds like a magic technology that will revolutionize the world. In his mind, he is "early" on IBM or Microsoft or Apple before classical computing took over the world. Maybe QC will do this eventually, but for the here and now, these companies bubbled up and are crashing their asses off.When it comes to what each company does individually the picture gets complicated. Unfortunately, because investors don't know WHAT THE FUCK THEY ARE BUYING, these companies are pretty much in a basket and get bought and sold together (generally).Rigetti (RGTI) has a multi-billion $ valuation but makes $1M a quarter. It loses money per share. Its CEO is Indian and sold ALL at like $5 before the bubble even happened. Leadership has sold millions of dollars worth of shares, and seemingly stopped only because they ran out of shares to sell. Apparently it's also headquartered in a strip mall.IONQ actually has a viable business model where they offer quantum computing to customers through a sort of cloud system. If there is going to be a winner it is probably this, but it is likely still overvalued, though is unfortunately at the mercy of the overall sentiment and is also crashing.D-Wave (QBTS) makes different sorts of "quantum processors" which are geared for solving optimization problems only mathfags care about. This company was founded in 1999. Why was the stock $1 a few years ago before bubbling to $40 (and now popping)?Same story with all these companies. BOOMERS like your DAD were so dazzled by ChatGPT they think AI is about to take over the world, and the only thing that could take over the world even harder is AI running on QUANTUM COMPUTERS, which are magic technology that has been mythologized for decades.That's why "quantum" has bubbled and popped, it's a sympathetic bubble.
>>61311230I don't know, I don't use Robinhood and I don't fuck with options directly right now.RGTZ is the 2X short ETF and I've been flipping it for weeks. It's easier for me.Some people are shorting RGTX.But with RGTI down 10% today, RGTZ had a 20% day and it might not be an opportune buy first thing. Rigetti loves to do retardpumps so I suggest looking for one of those. But who knows, maybe it dumps off the rip and I'm sidelined out of this for not wanting to jump on the slide.
>>61311268>It'll be big one day but you're too earlyThis is word for word what people were saying about RKLB and space stocks in 2022.Your dad is going to be rich, and you're going to be a good little whore for my quantum cock, my RGTI up 300% in 6 months
Maybe you can't convince him that he's WRONG, just that he needs to reposition.Mabye he's right and he is early. But regardless of his correctness or his timing on the quantum revolution, the price doesn't give a fuck. This shit is crashing.He should cut losses and sell everything. Then, when the crashing has settled out, he can rebuy at $1 or $4 or whatever. Tell him if he truly believes this is the play, if he sells now and rebuys when it's cheaper, he will have more shares.This is why you never immediately go to your maximum tolerable size on a long position, because the market can turn against you even if you are fundamentally correct long term, and the pain can cloud your judgement about the pick.
Sabine Hossenfelder
